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Such deals are available, but you would need some local knowledge of what is being developed. But I agree with Barry the Sydney area is a good place to look at, at the moment . If the pundits are right we should see substantial rises in the market in NSW in the short term say 2-4 years.
We lag behind most of the rest of the country with housing recovery and in no small way this has been hampered by state and local governments with restrictive fees structures for developers plus lack of land release etc.
Sydney has about 36% of the immigration numbers coming into this country and needs about about 50,000 new homes to meet the demand. I gather we have only been building some like 35-40,000 per annum. These figures in no way take into account the rise in migration under the Rudd Government.
So work it out ,if we build less than whats required for a number of years. Then we have a potential of the market shortfall times the number of years its been going on for.The longer it goes on, the greater the demand when the market moves.
heres talk of Sydney being like other world cities, million dollar homes and a generation of permanent renters. Even if it does not get that far, its obvious we are heading quietly, but definitely into another market rise of very decent proportions if not large.
I have lived through several Sydney housing booms and know only too well how fast things move once it begins.
We see auction rates are up and the median price is now $569k
rental rates a not helping although some believe its eased.But in my area rates are around 8-9% which ain't too bad
http://www.reinsw.com.au/2010-brings-higher-rental-vacancies-for-Sydney/default.aspx
BIS Sharpnel reports in the positive
cheers
neil
